High Yield Fund (A) (CPHYX)

Quick Facts

Ticker:

CPHYX

Inception Date:

04/08/1998

Morningstar Category:

High Yield Bond

Total Net Assets (mil):

$3,492.29

Investment Strategy

What's this?
The investment seeks to provide a high level of current income. The fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in below investment grade bonds (sometimes called "high yield bonds" or "junk bonds") which are rated at the time of each purchase Ba1 or lower by Moody's and BB+ or lower by S&P. It also invests in bank loans (also known as senior floating rate interests) and securities of foreign issuers, including those located in developing or emerging countries. The fund maintains an average portfolio duration that is within 20% of the duration of the Barclays US High Yield 2% Issuer Capped Index.

Morningstar Style Box™

as of 05/31/2015What's this?

Overall Morningstar Star Rating™

as of 06/30/2015What's this?

Out of 611 High Yield Bond Funds

Morningstar's Star Ratings reflect risk adjusted performance and are derived from a weighted average of the performance figures associated with its three, five, and ten-year (if applicable) time periods.

Investment results shown represent historical performance and do not guarantee future results. Investment returns and principal values fluctuate with changes in interest rates and other market conditions so the value, when redeemed, may be worth more or less than original costs. Current performance may be lower or higher than the performance data shown.

Where gross and net expense ratios differ, Principal Management Corporation has contractually agreed to limit the investment option's expenses. Differences also may be due to Principal Management Corporation's decision to pay (through the same dates) certain expenses that would normally be payable by the fund. Returns displayed are based on net total investment expense.

Statistics

Growth of $10,000

What's this?

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Represents performance for Class A shares adjusted for the maximum sales charge and assumes the reinvestment of distributions.

Performance assumes reinvestment of all dividends and capital gains.Extended performance is calculated based on the historical performance of the investment option's oldest share class, adjusted for the fees and expenses of the share class shown. Periods of less than one year are not annualized.

The full name of this investment option is Principal High Yield Fund (A).

Investors should carefully consider a fund's investment objectives, risks, charges, and expenses prior to investing. A prospectus, or summary prospectus if available, containing this and other information can be obtained by contacting a financial professional, visiting principalfunds.com, or calling 800-222-5852. Read the prospectus carefully before investing.

Not FDIC InsuredMay Lose Value - Not a Deposit - No Bank GuaranteeNot Insured by any Federal Government Agency

Barclays US Corp High Yld 2% Issuer Capped Index is an unmanaged index comprised of fixed rate, non-investment grade debt securities that are dollar denominated. The index limits the maximum exposure to any one issuer to 2%.

Effective April 9, 2012, this fund is sub-advised by Principal Global Investors. Prior to April 9, 2012, the fund was sub-advised by Edge Asset Management, Inc.

Fixed-income and asset allocation investment options that invest in mortgage securities are subject to increased risk due to real estate exposure.

High yield investment options are subject to greater credit risk and volatility that is associated with high yield bonds.

Fixed-income investment options are subject to interest rate risk, and their value will decline as interest rates rise. Neither the principal of bond investment options nor their yields are guaranteed by the U.S. government.